An Overview of The Liberty Mutual Insurance Company



The Liberty Mutual Insurance Company was founded in 1912 as the Massachusetts Employees’ Insurance Association. It is the third-largest property and casualty insurer in the U.S. based on 2010 net written premium, and is currently based in Boston, Massachusetts. As of June, 2011, it is ranked number 71 on the Fortune 500 list, and holds an "A" (excellent) rating from the A.M. Best Company, the leading independent insurance industry rating service. It is a mutual company, and is therefore owned by its policy holders rather than stockholders.

Liberty Mutual offers a wide spectrum of insurance products for individuals, including automobile, home, life, personal liability and renters. It also provides many commercial insurance options for businesses. The company does business in all fifty states, and as of 1941, began offering coverage in international locations as well. Today, the company provides insurance products on five continents, and its International Operations Group offers personal and business coverage in many different countries.

Insurance policies may be purchased via an extensive network of independent agents as well as through company representatives at over 400 offices across the United States. Alternatively, policies may be purchased online if desired; questions on policies require contacting an agent or telephone representative. Policy holders may also pay premiums and manage claims through the company website if they choose.

Liberty Mutual offers standard discounts such as multi-policy, multi-car and good student discounts. They also offer accident forgiveness for drivers who have been accident-free for five years, and have no driving violations in the past three years. In many states, they also sell an optional "Better Car Replacement" coverage that ensures that if your car is "totaled", you receive not just money for a replacement car, but for a car that is one model year newer with 15,000 fewer miles than your current car.

The official Liberty Mutual website provides a wealth of well-organized and detailed information, and is highly-interactive. In addition to purchasing your policy online, you may request a quote, find a local agent, pay your bill and report and track a claim online 24 hours a day, 7 days a week. They also offer a mobile claims app for the iPhone and Android that walks you through the documentation and information gathering process immediately after you've had an accident. Repairs to your car may be handled through a repair facility of your choice, but certain repair shops are members of the "Total Liberty Care" network, and the company provides several ease-of-use benefits that make it simpler for you to manage your claim if you stay within the network.

The organization prides itself on its commitment to community involvement and philanthropy. Through organizations such as the Liberty Mutual Foundation, they support education, healthcare and cultural preservation for under-privileged and low-income groups and individuals, and provide grants to non-profit organizations with similar goals.

Whether you are an investor, or shopping around for an automobile insurance policy, this seems to be a company to keep your eye on. Before you make a final decision about which company to purchase a policy from, make sure to get a quote from this one also. You might be pleasantly surprised.

If you have ever worked for the Liberty Mutual Insurance Company or had a policy with them, our readers would love to hear from you. What did you think about the company? What did you like or dislike about it. How was the customer service. Please share your insights or personal story with the rest of our insurance community. Just fill out the web-form below to get started. Thank you.

This article is written for informational purposes and is not intended to take the place of competent local legal counsel. The writer is not associated with this insurance company or any of its affiliates. This website does not endorse any specific automobile insurance company over another.

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Other articles that you may find to be of interest:

The Insurance Claims Handling Process Explained

Why Bother with Buying Automobile Insurance?

GAP Coverage Explained

What is an Insurance Lienholder?

An Explanation of the Personal Umbrella Policy (PUP)

An Explanation of Uninsured or Underinsured Motorist Coverages

First Party Insurance Coverages vs. Third Party Insurance Coverages

What to do If You are in an Accident

The Black Box Under Your Car Seat

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